Citi Bank boss, Dawodu cautions on liquidity management in 2017
The Chief Executive Officer of Citi Bank Nigeria, Akin Dawodu has called on Corporate treasurers in Nigeria and financial institutions to be mindful of the liquidity situation of their institutions come next year.
Speaking in Lagos at the maiden breakfast meeting of the Association of Corporate Treasurers of Nigeria (ACTN) with the theme, ‘The Economic Outlook for 2017 and its Impact on the Corporate Sector’, he said liquidity remains an important factor that must concern every treasurer if his or her firm must move forward.
Continuing, Dawodu argued that “For medium to small-sized corporates, they should expect to see liquidity challenges within a tight monetary policy environment. They have to keep a focus on liquidity of their corporate.”
Earlier the Deputy Governor, Economic Policy, Central Bank of Nigeria (CBN), Sarah Alade, said “Monetary authorities in Nigeria are currently being faced with very difficult choices in the trade-off between tackling inflation, supporting growth and exchange rate stability”.
While noting that achieving appropriate macroeconomic policies had continued to be a great challenge to the monetary authorities, she argued that the survival of the financial system rested chiefly on the shoulders of corporate treasurers.
The CBN executive further called on the experts to collectively begin to take measures to fine-tune the effectiveness of the monetary policy transmission mechanism to ensure increased financial intermediation.
Represented by the Director, Monetary Policy, CBN, Moses Tule, she said “As treasurers, you are in a vintage position to know where the shoe pinches and you can collectively address the nuances in the system. The weather ahead is not so friendly but dogged determination by your good selves will help ride the stormy headwinds”.
Business Hilights recalls that ACTN is a professional association launched on December 12, 2012 to foster the interests of corporate treasurers of the buy-side and non-bank sell-side of the Nigerian financial markets by providing the platform for policy advocacy, discussions on issues of mutual interest, education/enlightenment and standards development of the corporate treasury roles.
